According to a post shared on the X app, Bifrost SLPx Pallet, a protocol that is designed to leverage the Polkadot (DOT) native cross-consensus messaging format, has gone live.
SLP is built as a module that enables the processing of vToken minting as well as its redemption via the Bifrost chain. The process requires that users transfer their assets to the Bifrost chain first and the newly created SLPx which forms an extension pallet to SLP will help address any apparent user experience issues.
Bifrost SLPx Pallet is Live!
By leveraging @Polkadot’s native cross-consensus messaging format (#XCM), the #SLPx pallet will crucially lower the barrier of liquid staking for users.
By reducing the whole process to one click from any chain, it abstracts away the… pic.twitter.com/33J87mL0Wj
— Bifrost – Omnichain LSD (@BifrostFinance) October 12, 2023
Operation Modalities of Bifrost SLPx
With the new SLPx, users are able to invoke SLP’s functionality on a remote chain and they would no
